Russia: Shtokman Development and United Shipbuilding Corp Sign Cooperation Agreement

Mr. A. Zagorovskiy (image), Chief Executive Officer of the Shtokman Development AG (SDAG) and Mr. R. Trotsenko, President of the Unified Shipbuilding Corporation (USC) signed the Cooperation Agreement on June 2, 2011 in Moscow.

According to the Agreement SDAG and USC acknowledge their intentions to cooperate to achieve maximum Russian content for phase 1 of the Integrated Development of the Shtokman Gas and Condensate Field. The Parties agreed to cooperate and exchange information to extend the list of the Project participants and scope of Russian content.

“Engagement of Russian enterprises in the Project and development of their engineering capabilities are among the SDAG priorities. The Shtokman Project realization will contribute to the development of industrial and service capacities of Russian industry, and we intend to join efforts with USC in this direction”, — underlined Mr. A. Zagorovskiy.

Mr. R. Trotsenko assessed that “execution of the Agreement confirms the intention of SDAG, as Contractor to assure maximum engagement of potential of Russian ship building companies in the Shtokman Project using their existing and newly build capacities. Their capacities could be called for to manufacture production vessels, subsea production complexes, support and service vessels for offshore fields”.

SDAG and USC agreed to organize within the Agreement the Working Team on engaging Russian enterprises in the Project. The Parties assume that extended Russian content in the Project would contribute to further upgrading of Russian industrial capacities.

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Source: Shtokman, June 5, 2011.